Turkey’s current-account balance improved so far, but it is too early to be confident about sustainability. The same holds true for today’s inflation readings, Commerzbank’s FX analyst Tatha Ghose notes. Some moderation in Turkish inflation “On Friday, the Istanbul Chamber of Commerce published its monthly cost of living index, which showed cost of living increasing by 3.64% m/m and 59.1% y/y. The media headlines were that cost of living increase had slowed down to 3.64% m/m. But, at this rate of month-on-month increase, annualised inflation still works out to 53%.”